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HomeMy WebLinkAboutMinutes - North Fork Water Company - 03/30/1973 (Annual Stockholders)NORTH FORK WATER COMPANY 1155 Del Rosa Avenue San Bernardino, California ANNUAL MEETING OF THE STOCKHOLDERS MARCH 30, 1973 The annual meeting of the Stockholders of the North Fork Water Company was held March 30, 1973, at 10:00 A.M. at the offices of the East San Bernardino County Water District, 1155 Del Rosa Avenue, San Bernardino, California. The Secretary announced that a majority of the stock of the company in excess of the required 3,601 shares was represented by eleven persons present and proxies deposited prior to the meeting. A final count indicated that persons present holding 3,19.98 shares and proxies deposited in the amount of 2,302.22 shares in the name of the President Arnold L. Wright a total representation of 5,322.20 shares. The meeting was declared open for business by President Arnold L. Wright. The minutes of the last regular stockholders meeting held March 31, 1972 were presented as read. The President asked the Secretary to report on the financial statements that were audited by Eadie & Payne. After the Secretary reviewed the financial statements for the stockholders the financial statements were accepted and Eadie & Payne were again appointed Auditors for the ensuing year. Motion was carried by Mr. Rickert, seconded by Henry Guerth and approved. Comments were also made regarding the new agreement made with Bear Valley Mutual Water Company concerning the sharing of costs of the Zanjero. Mr. Guerth brought out the fact that we were now using the 50/50 allocated as agreed by the 1885 agreement rather than the 2/3 by Bear Valley Mutual Water Company and 1/3 by North Fork Water Company. The President made comments concerning the condition of the operational facilities and stated that additional labor was being performed this year to clear the mud that accumulated from the more than normal rainfall. Weed spraying has taken place in and around the ditch so that the ditch should be clear of weeds in the forth coming season. Mr Wright also stated that the river was carrying 7~0inches of water compared to 14~inches that were flowing in the river last year at this time, therefore assuring of an adequate water supply for the ensuing season. It was also stated that the dam at Big Bear Lake was anticipated to be brought to its maximum high by May 1, 1973. The question was raised by a couple of Stockholders in attendance asking what the current selling price of North Fork Water Company stock is. It was pointed out that sales made by stockholders are not necessarily reported as to their amounts to the company when only the actual exchange information is given. At this time the President called for nominations of Directors for the ensuing year. Upon a motion by Mr. Rickert, seconded by Mr. Stuart George that the present Directors Arnold L. Wright, Stuart M. George, Harold G. Rickert, Henry E. Guerth, Elizabeth Kiel, Paul R. Jennings, Jr. and David V. Garcia be nominated to serve as Directors for the ensuing year. The President asked if there were any further nominations and it was moved by Mr. Henry Guerth, seconded by Mr. Rickert that nominations be closed and that the Secretary be instructed to cast a unanimous ballot for their election. The motion carried. As there was no further business to be conducted at the Annual meeting the President adjourned the meeting, asking newly elected Directors to remain for the reorganization meeting to follow and invited those stockholders present to remain if they wish. The meeting was adjourned at 10:30 A,M. e y NORTH FORK WATER COMPANY 1155 Del Rosa Avenue San Bernardino, California March 30, 1973 Upon adjournment of the Annual Stockholders meeting, the Board of Directors met on March 30, 1973, at the office of the East San Bernardino County Water District, at 1155 Del Rosa Avenue, San Bernardino, California, for the purpose of reorganization and further business that may come before the Board. Present: Directors Arnold L. Wright, Paul Jennings, Jr. Elizabeth Kiel, Stuart M. George, Henry Guerth, Harold G. Rickert and David V. Garcia. In addition Secretary Howard H. Hendricks. Acting Chairman Mr. Arnold L. Wright called the meeting to order and the Secretary read the minutes of February 9, 1973 meeting. Upon a motion by David V. Garcia, seconded by Paul Jennings,Jr. the minutes were approved as read. The Chairman stated that nominations for Officers were in order and upon a motion by Paul Jennings,Jr. seconded by Elizabeth Kiel that the slate of Arnold L. Wright, President, Henry Guerth, Vice President, Howard H. Hendricks, Secretary/Treasurer, it was moved by Harold G. Rickert, seconded by Stuart George that nominations be closed and that the Secretary be instructed to cast a unanimous ballot. Motion carried. The President brought up a letter that was presented to him from the Bechtel Corporation, the Engineers employed by the Valley Municipal Water District for the design and construction of a pipe line that will traverse through the East Highlands area. The letter was asking for approval for certain easements over the North Fork Water Company's property. Considerable discussion ensued concerning the easement required by the North Fork Water Company and also other property owners in the East Highlands area. Within the discussion a motion was made by Mr. Rickert, seconded by Mr. G~orge, that the Secretary contact the San Bernardino Valley Water Conservation District in regards to a lease that they supposedly have on North Fork Water Company's property for the purpose of spreading water. Additional discussion carried on concerning the Bechtel proposal and upon a motion by Mr. George, seconded by Mr. Rickert that the President was instructed to draft a letter to Bechtel Corporation prior to granting an easement, stating that we need additional information as to where the other easements required have been obtained, as ours is one of the last ones they would need. Since the other easements are required before having a final alignment, we would prefer to defer our decision until more information is given. A carbon copy of said letter is to be sent to Valley Municipal Water District. The motion was approved as moved. The discussion came up concerning the continued use of the three currently operating wells of North Fork Water Company. Since Bear Valley Mutual Water Company has terminted their request for the use of these wells, the question came up as to whether the Company needed to keep power to these wells and continue to pay standby charges. It was noted that the company is strictly a supplier of agricultural water which is not considered potable water for domestic use and that these wells are not producing a large enough quantity of water. It was moved by Mr. Rickert, seconded by Mr. Jennings to ask Edison Company to remove the power. The motion carried. A report was made by the President regarding a field trip that was recently made by the Directors, covering the facilities of the North Fork Water Company. The matte~ of covering the ditch through the Fiscalini proposed development was again brought up before the Board. After some discussion a motion was made by Mr. Rickert, seconded by Mr. George that the Company stand on their original commitment to Mr. John Fiscalini to help defray cost of covering the ditch, as had been proposed through his property and a portion outside his property and that any increase in cost due to the time that this proposal had been originally made and the possible increase due to the time delay, be shared by the North Fork Water Company. Their proportional part of this covering would be made as per the original agreement and that the ditch would not be used as a means of carrying surface waters from the tract as Mr. Fiscalini has more recently requested. The motion was approved with Mr. Henry Guerth abstaining. Mr. Rickert left the meeting at 12:00 P.M. The Secretary presented the budget for the coming year and upon a motion by Mr. Jennings, seconded by Mr. Guerth that the budget be approved and that Assessment No.126 for $1.50 be levied against the shares of the Company with the normal dates of delinquency and sale be set. This motion was approved unanimously by those Directors present. A request was made for a modification of our present Insurance placing the individual limit to $300,000.00 with a maximum of 300,000.00. Previously the Insurance carried a limit of $50,000.00 per person with a maximum of $300,000.00. The cost of this change amounting only to less than $20.00 a year. Upon a motion by Mr. Guerth, seconded by Mr. Garcia that the North Fork Water Company liability Insurance be modified accordingly. As there was no further business to be brought before the Board, the meeting was adjourned at 12.30 P.M. H6qafd-H. Hehd~ick~,Se6re~ary